The Federal Reserve’s effort to stimulate economic growth is aiding property owners as far afield as the Pacific islands as commercial-mortgage bond issuance surges.
Bank of America Corp. hired Alan Todd from JPMorgan Chase & Co. to head commercial-mortgage bond research.
Wall Street banks struggled to unload commercial-mortgage bonds last month as $10 billion in new deals swamped investors.
Wall Street is scouring the U.S. for grocery stores as bankers are pushed out of lending to trophy office properties.
Hedge funds seeking the hottest trade of 2013 are turning to skyscrapers, shopping malls and hotels after last year’s rebound in residential real-estate drove the industry’s best gains.
Randy Waesche was running out of time to retire debt he took on to build a Marriott hotel in downtown New Orleans. Then Citigroup Inc. showed up.
Landlords are piling the most debt onto commercial properties in five years as Wall Street banks bundle the loans into bonds to meet rising demand from investors seeking high yields amid record-low interest rates.
A guard clutching an assault rifle and another with a German Shepherd block the entrance to a parking garage on a quiet street in Arlington, Virginia, gateway to the Defense Intelligence Agency.
Investors adding the riskiest portions of newly issued commercial-mortgage bonds should be cautious as underwriting standards slip, according to Bank of America Corp.
Debt investors are wagering that the worst is over for commercial real estate, driving prices on mortgage bonds to the highest in more than two years.
"With many investors' expectations becoming overly optimistic, we think the recent market pause is not only healthy, but also gives investors a chance to reassess their expectations."
- Alan Todd on Feb 12, 2013